COMPOSITE PHOTO Senate of the Philippines and House of Representatives/INQUIRER FILES
Updated on May 1, 2024 at 11:32 a.m.
MANILA, Philippines — President Ferdinand Marcos Jr. on Labor Day urged Congress to pass several measures for job creation, including the CREATE MORE law.
The CREATE MORE Law moves for a 20 percent tax income rate for local and foreign corporations in the Philippines.
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“I call on Congress to pass laws that will support the attainment of our jobs creation agenda, including the Enterprise-based education and training program Law, the Revised apprenticeship program Act, and the CREATE MORE law, or the law on Corporate Recovery and Tax incentive for Enterprises to maximize opportunities for reinvigorating the economy,” Marcos said in his Labor Day speech in Malacañan Palace.
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Meanwhile, the Enterprise-based education and training law aims to address job mismatch in the country. The Revised apprenticeship program Act pushes for compulsory apprenticeships in certain occupations.
During his speech, Marcos pledged that the government will continue to upskill and reskill the country’s workers.
“We are very serious about enhancing the skills of all Filipino workers, marking them job ready for the technical and digital jobs that would be opened through the investments that we have secured,” said Marcos.